Laurentian Bank reports $34.1M Q3 profit, down from $49.3M a year ago
By The Canadian Press on August 30, 2024.
MONTREAL – Laurentian Bank of Canada says it earned $34.1 million in its third quarter, down from $49.3 million in the same quarter last year. The Montreal-based bank says the profit amounted to 67 cents per diluted share for the quarter ended July 31 compared with a profit of $1.03 per diluted share a year earlier. Revenue for the quarter totalled $256.5 million, down from $260.8 million in the same quarter last year. The bank’s provision for credit losses amounted to $16.3 million for the quarter, up from $13.3 million a year ago. On an adjusted basis, Laurentian says it earned 88 cents per diluted share in its latest quarter compared with an adjusted profit of $1.22 per diluted share in the same quarter last year. Analysts on average had expected an adjusted profit of 86 cents per share, according to LSEG Data & Analytics. This report by The Canadian Press was first published Aug. 30, 2024. Companies in this story: (TSX:LB) 9-8
